Phl to host Chinese business mission next month

MANILA, Philippines - A Chinese business delegation is set to visit the country next month to explore opportunities here despite the territorial dispute over the West Philippine Sea, the Philippine Chamber of Commerce and Industry (PCCI) said.

PCCI president Miguel Varela told reporters the China Council for the Promotion of International Trade (CCPIT) will be sending a delegation composed of representatives from 18 companies next month to look at business opportunities here.

The CCPIT is the largest institution for the promotion of foreign trade in China, composed of enterprises and organizations representing economic and trade sectors.

“They want to see what are the business opportunities in the country,” Varela said.

“They also want to have dialogue with actual counterparts,” he said further.

Some of the firms represented in the business delegation are engaged in the manufacturing and mining sectors.

Even as the Philippines and China are in a territorial dispute with both having claims over the West Philippine Sea, Varela said Philippine and Chinese firms continue to look at trade and investment opportunities in both countries.

“Even if there is conflict over West Philippine Sea, we don’t talk about it. It is business as usual for us,” he said.

“We think business should not be affected by this (conflict),” he added.

He also said the PCCI continues to have an information desk in China which can assist Chinese businesses interested in business prospects in the Philippines.

The PCCI continues to receive a lot of inquiries from Chinese firms.

“What we want is for businesses to just continue,” Varela said.

Last January, the Philippines filed an arbitration case before the United Nations (UN) to assert its claim over the West Philippine Sea.

In its notification and statement of claim, the Philippines said China’s so-called nine-dash line claim that encompasses the entire South China Sea or West Philippine Sea is contrary to the UN Convention of the Law of the Sea and illegal.

China however, rejected the conduct of international proceedings and asked that the matter be settled through bilateral talks.

Data from the National Statistics Office showed that China was the third largest market for Philippine exports last year with an 11.85 percent share valued at $6.16 billion.

In terms of imports made by the Philippines last year, China was the second biggest source with its 10.81 percent share worth $6.66 billion.